What are your current income and expenses?

The amount of income and expenses that are considered good for an individual or family can vary widely based on several factors, such as location, family size, lifestyle, and personal goals.

In general, it is a good financial practice to have a budget in place that tracks all income and expenses, including fixed expenses like rent/mortgage, utilities, and loan payments, as well as variable expenses like groceries, entertainment, and travel. The goal of a budget is to ensure that expenses do not exceed income and to identify areas where expenses can be reduced or eliminated.

A general rule of thumb is to allocate a certain percentage of income towards various expenses, such as:

Housing: 2530%
Transportation: 1015%
Food: 1015%
Savings: 1015%
Personal expenses: 1015%
Debt repayment: 510%
Entertainment: 510%

However, this is just a general guideline, and it's important to adjust the percentages based on individual circumstances and financial goals. The key is to find a balance between spending and saving that allows for a comfortable lifestyle while also building a strong financial foundation for the future.